1853 Gold Dollar. MS-66+ (PCGS).This gorgeous Gem 1853 gold dollar displays intense satin luster on overall fully struck features. Even vivid golden-orange patina adds to the appeal of this stellar-quality type candidate. Authorized by the Act of March 3, 1849, the gold dollar was intended to serve two purposes. First, similar to the double eagle (although on a much smaller scale), the new denomination was seen as a storehouse for some of the gold being mined in California during the gold rush. Second, the gold dollar would partially replace its silver counterpart that was being withdrawn from active commercial use as rising silver prices forced the bullion value to exceed the face value. Designed by Chief Engraver James Barton Longacre, the original design of the gold dollar featured a left facing head of Liberty on the obverse with 13 stars around the border. Liberty is wearing a coronet inscribed LIBERTY. On the reverse, a wreath encircles the denomination 1 DOLLAR and the date 1853 with the legend UNITED STATES OF AMERICA around the border. This design is known as the Type I or Liberty Head gold dollar, and it was struck from 1849 through 1854. The diameter is 13 millimeters, smaller than that of its Type II and Type III counterparts of 1854 to 1856 and 1856 to 1889, respectively.The Philadelphia Mint produced the largest number of Type I gold dollars; the 1853 has the highest mintage for the type at 4,076,051 circulation strikes. As the most available issue of the design in todays market, high grade survivors such as this premium quality Gem are ideal for advanced type purposes.
